Following a meeting with the financial community, Jefferies significantly raised its price target on Caterpillar shares to $700 from $570 and maintained its "Buy" rating. This positive revision came after the construction equipment giant outlined its new long-term growth strategy, which includes ambitious plans to significantly expand production capacity by 2030. Caterpillar's management announced intentions to double its heavy equipment production capacity and increase turbine engine capacity by 2.5 times. The company is targeting average annual revenue growth of 5% to 7%, with a goal of reaching $100 billion in annual revenue. Jefferies noted these forecasts could be conservative under favorable economic conditions. Other analysts also weighed in, with Bernstein reiterating its "Market Perform" rating and a $557 price target. Separately, DA Davidson issued Q4 2025 earnings per share estimates of $4.69, maintaining a "Neutral" rating on the stock.